Biopharma companies are increasingly choosing to outsource manufacturing for the U.S. market to European facilities, finds data and analytics firm GlobalData.
Despite the Trump administration’s imposition of tariffs on European Union (EU) pharmaceuticals, biopharma companies are increasingly moving to outsource manufacturing for the U.S. market to facilities in Europe, according to an analysis by data and analytics firm GlobalData.
Last year, the EU and U.S. announced a trade agreement that includes a 15% tariff on most EU exports, including brand name pharmaceuticals. However, GlobalData found that biopharma companies appear “undeterred” by the tariffs and are increasingly turning to contract manufacturing in Europe. ...[PharmaManufacturing]
